Monday 21 April 2014

Heinz Irish supplier savours 17pc profit surge to €17.9m

THE Irish supplier of Heinz Baked Beans and Weight Watchers meals has seen a surge in profits.

Pre-tax profits at the main Irish-based subsidiary of US food giant Heinz increased by 17pc last year to £14.6m (€17.9m), new figures show.

Accounts show HJ Heinz Frozen and Chilled Foods Ltd recorded the increase in profits after marginally increasing revenues from £96.3m to £97.4m in the 12 months to the end of April 29.

The filings show that the producer of iconic brands, Heinz Ketchup and Heinz Baked Beanz increased operating profits from £11.6m to £12.2m.

The number employed by the firm last year fell from 276 to 269, with staff costs increasing from £12.3m to £13m.

The group's accumulated profits increased from £52.9m to £64m, while expenses dropped marginally from £72.6m to €72.3m.

Emoluments to directors totalled £757,000, down from £679,000 the previous year.

The profits also take account of non-cash costs of depreciation of £2.6m and amortisation and impairment of trade marks of £91,000.

Irish Independent

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